WHEN OPPORTUNITY KNOCKS …

Professional Services News

As is so often the case in the world of commercial property, a vacancy opens the door to opportunity. One tenant becomes insolvent making way for a well advised landlord to unlock the value in their asset with the right advice – combine units, redevelop upper floors, re-gear leases and so on.

So it was with the retirement of veteran Landlord & Tenant surveyor Mark Bradley at the end of 2022 that his departure after 23 years with FHP working across the retail and leisure sectors opened the door for me, a door which I was more than happy to walk through.

Having worked alongside Mark for a number of years I have tried to absorb as much of his knowledge as possible. I now find myself inheriting not only his cases but a lever arch file of end allowances and Arbitration awards that date back nearly a quarter of a century!

Looking ahead to 2023, it’s no surprise to know we are expecting challenging and changing times in many sectors and regions that, once again, can represent opportunity. With operators looking ever more closely at their outgoings, seeking to reduce rents and benefit from rent free periods, lease renewals are likely to become more contentious whichever side you are on. Particularly in those areas where rents remain strong or have yet to catch up with the economic stresses. Getting good quality advice in these situations is as important as ever, perhaps more so.

Landlords need pragmatic advice to get the best outcome, whether that means taking a co-operative approach to retain a valuable tenant or, as the situation demands, a more bullish strategy to avoid being taken advantage of by national chains playing hard ball.

Likewise acting for tenants, we can use our market knowledge to advise on how to achieve the best deal that keeps your business viable in tough times. This is where I can step in and offer my own advice with the benefit of not only the years of experience Mark Bradley brought to the practice but that of FHP’s award winning agency teams.

For more information on how I can assist with your lease renewals and rent reviews, please contact me by email (tom@fhp.co.uk) or phone (07970 168 138).